RIDERS HOLD ANNUAL GENERAL MEETING
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| New Rider Chairman Wayne Morsky |
On Tuesday, the Saskatchewan Roughriders held their 2013-14 Annual General Meeting in the Queensbury Convention Centre at Regina’s Evraz Place.
2013-14 AGM ANNOUNCEMENTS
FINANCIAL REPORT
During his financial report, Craig Reynolds, the Saskatchewan Roughriders’ Chief Financial Officer, revealed the Football Club reported a record profit of $10.4 million – including a net profit of $9.3 million from hosting the 2013 Grey Cup. The Club set a new record for operating revenues exceeding $43.8 million in total operating revenues. The Club also has allocated $6 million of cash flow from the 2013 Grey Cup to its Capital Campaign to go towards the $40 million the Club needs to raise for capital commitments at new Mosaic Stadium.
TICKET SALES
The Club saw record revenue from ticket sales as a result of an expanded capacity and leading the league in attendance during the year. Gate receipts totaled $15.4 million surpassing the prior year’s record by 17%.
MERCHANDISE SALES
The Club once again continued to set the pace in merchandise sales in the CFL during the year. Including sales of 101st Grey Cup merchandise, the Club exceeded the $13 million mark in merchandise revenue eclipsing the previous record of $10 million.
BOARD OF DIRECTORS
Under the governance guidelines, the Rider shareholders selected a new Board of Directors at the meeting. Returning to the board this year will be Director’s Arnie Arnott, Randy Beattie, Twyla Meredith, Wayne Morsky, Jeff Stusek and Joel Teal. Shareholders voted in four returning board members Doug Emsley, Robert Leurer Dennis Mulvihill and Laurie Powers. Shareholders also voted in a new member in Barry Clarke who replaces Roger Brandvold who had reached his maximum term on the Board.
Under the governance, Wayne Morsky (pictured) is the new Chairman of the Riders.
Under the governance, no obvious visible ethnic minorities selected to this board of directors, has there ever been? No past players from within the community of Regina, Province of Saskatchewan.
Mr George Reed a very astute gentleman deserved of governance seat.
So despite records in a number of revenue areas we only made $1.1million outside of the grey cup profit? So if we ever have a downturn it doesnt take long to lose $1 million and we go on the hole in a non grey cup hosting year…..as i have said before this administration has benefitted and led alot of the increase in revenue but the scary thing is that they spend like drunken sailors…..we should be making more than that on those types of revenue but the costs of admin staff and number of staff have ballooned over the last… Read more »
handing jobs out to ex players like candy
cooked books to boot.
So the Riders would have only made $1.1M if they didn’t hold the Grey Cup last year ($10.4M – $9.3 from hosting GC).
O’lordy is the CFL ever in good health, when the premier team in Canada only makes only what it did.
morsky group of co. should get some nice contracts for the new stadium.
yeah ! some insider conflict of Interest.
agree. way too much admin! players underpaid relative to admin.
Woz’s point about spending like drunken sailors:
It’s one of the reasons Roy Shivers was let go, he wouldn’t control his spending and Hopson was brought on board to bring in a business model to bring Roy’s spending under control.
Looks like the Riders need to review their expenditures again and get things under control.
WOZ makes some very good points. The increase in Admin positions and associated costs is typical of a School Board empire building model. This is Hopson and the BOD decision. The old boys club is alive and well.
Marty
I agree, if the Grey Cup is excluded profit should be alot higher considering higher ticket and other sales. Better get the costs under control.
You need to either have money or be in a postion of power/influence in this community to get on to the Rider Board of Directors. No average Joe's on this Board, nor will there ever be. Sad.
Nobody's above anyone, no matter who they think they are !
If you exclude the Grey Cup profit is about 1.1M – not that much for such a large org. This, in the CFL's best city. Maybe the players will actually see that all is not as rosie as they seem to think.
Ya, so the Riders move money around in order to show less profit and they've been doing it ever since the club became profitable. They do it so fans don't get complacent and feel the club "has enough money" and thus be less likely to buy another jersey to add to the 4 already in the closet. It becomes easier to sell bricks with your name on it in the new stadium for a few hundred bucks when the Riders can say they only made $1.1 million and still need our support to pay for the team's share of the… Read more »
Time to light the torches and get the pitchforks out?
You bet, time for some belt tightening hardline accountability to some excessive expenditure to a community owned club.
Why is that laughable? They talk about being transparent which should be a pillar for a community owned team. Yet the information on costs available to the public is getting to be less and less and there is limited access to at least ask some questions. I remember one Saturday several years ago when several people in the Crowd questioned how successful the share offering was going to be when it was really a "donation" since there was really no ownership interest……just a certificate to hang on the wall. Low and behold shares sales sucked initially and they had to… Read more »
If you add up the team's investments, cash on hand and stabilization fun you come up with a total that is significantly higher than the total of the clubs's reported profits going back to the 2007 season. You are comparing 2 sets of information and trying to make it a simple math exercise when it’s not that direct. Shouldn’t they add up to more? If you invested $100 in 2007, wouldn’t you hope that investment was worth more than $100 today? Just because something is worth more today than it was yesterday doesn’t mean you've made money today. You don’t… Read more »
The Woz, he's hitting it out of the ballpark today with his straight forward bang on opinion, well said !
It's laughable because the idea that the Riders are scared of your dumb question so they scheduled the AGM so as to make it "less accessible" is paranoid nonsense on par with the idiots who think that their criticisms of Durant is what got Durant to "elevate his play." It's laughable since 7:00 pm is a perfectly accessable time, no less accessable then 8:00 am on a Saturday. It's laughable because the crowd at last night's AGM was just as big as it usually is. It's laughable because the financial statements are available to anybody, not just shareholders, and all… Read more »
School's In, The Woz schooling people on this site since he found out how to type and blog on the Internet, his opinions have helped this blog reach cult status as CANADA'S #1 SPORTS BLOG.
Y'er Welcome
Rider Board of Directors looks like "lifestyles of the Rich and Famous"
Some Rider observers (shall I call them "fans" or not?) are simply not happy unless there is something to complain about. Today its the way they report income, and because there are no "average Joes" on the board.
Sheesh.
We are the 2013 defending champs currently in a first place tie in 2014 season. Just enjoy it for once.
Great gobs of greasy grimey gopher guts (sorry Gainer)….what a load of whiney hooey. If you don't like the process or the BOD or anything else for that matter…do something about it. Anyone can be nominated and stand for election. All you have to do is find a handful of friends that will sign your nomination papers. And what sort of profit levels were you all expecting?? I don't suspect it's as straight forward as subtracting what has been deemed GC contributions with the leftover being what we would have earned without the GC. And besides, we DID host the… Read more »
What is laughable is people who come on these sites and indicate if someone complains about anything they are not a fan. That is what makes you a fan. Buying season tickets and drinking 6 beer at the game and thinking everything is rosey and ever call against your team is a bad call doesn't make you a fan any more than someone who questions why the team is doing or not doing the things they are.